Intel announces building and hiring planIntel (INTC) will spend as much as $8 billion to update manufacturing processes at its chipmaking plants in Arizona and Oregon, resulting in thousands of temporary and permanent jobs, the world's leading supplier of microprocessors said today.

The investment is expected to create 6,000 to 8,000 construction jobs and as many as 1,000 permanent high-tech jobs, Intel said in a statement. The plan also allows Intel to maintain its current manufacturing employment base in the U.S.

Intel's plans call for it to build a new development fabrication plant in Oregon and to upgrade four existing fabrication plants to manufacture its next generation of 22-nanometer microprocessors that use less energy while providing higher performance.

A More Rosy Assessment


"The most immediate impact of our multi-billion-dollar investment will be the thousands of jobs associated with building a new [fabrication plant] and upgrading four others, and the high-wage, high-tech manufacturing jobs that follow," said Intel President and CEO Paul Otellini in a statement.

Last week, Intel reported better-than-expected earnings, posting third-quarter profits of nearly $3 billion on revenue of $11 billion. The chipmaker's solid results eased fears among investors after the company reported in August that sluggish PC sales could hamper profits.

Intel delivered a more rosy assessment today, saying the PC industry is on track to sell 1 million computers a day, "a significant milestone." By investing in its plants, Intel said it will create the capacity for the continued growth of the PC market as well as for mobile and embedded computing.

Threats to Future Innovation

Today's announcement also comes just weeks after Otellini offered a dismal assessment of the U.S. economy, telling a gathering of the Technology Policy Institute in Aspen, Colo., that an anti-business climate in Washington is forcing jobs and investment out of the country.

Unless government policies are altered, Otellini predicted in the Aug. 30 speech: "The next big thing will not be invented here. Jobs will not be created here." In addition, he said, the U.S. legal environment has become so hostile to business that there is likely to be "an inevitable erosion and shift of wealth."

In its statement Tuesday, however, Intel said that while it generates about 75% of its revenues overseas, it maintains three-fourths of its microprocessor manufacturing in the U.S. "Contrary to conventional wisdom, we can retain a vibrant manufacturing economy here in the United States by focusing on the industries of the future," said Brian Krzanich, senior vice president and general manager of Intel's manufacturing and supply chain operations.

It's a theme that President Barack Obama himself offered during recent tours of domestic automakers' plants in Michigan and Illinois.

Speaking to groups of autoworkers from Chrysler Group, Ford Motor (F) and General Motors, the president said decisions to invest in U.S. plants to build more fuel-efficient vehicles have revived a stagnating industry, saved at least 100,000 jobs and created 55,000 more.

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toosmart4u

Way to go intel.........

October 20 2010 at 6:14 AM Report abuse +1 rate up rate down Reply
travelergtoo

Bush should be known as the magical president. When the twin towers were hit Bush DISAPPEARED. The Iraq nuclear missiles DISAPPEARED. One $billion in cash just 'disappeared' in Iraq. The CIA tapes of interrigation DISAPPEARED. Bush was nowhere to be found when 'shotgun Dick' disclosed that Valerie Plame was a (covert) CIA agent which was classified information. When our embassy in Serbia burned Bush DISAPPEARED. Bush's Robber Baron presidency has made our money DISAPPEAR. With Voodoo Economics Georgie has made most of our jobs DISAPPEAR. But what would happen if Bush really disappeared? Can you imagine 'Deadeye Dick' with his finger on the nuclear trigger? If that were to happen everyone might just DISAPPEAR!!!!!!! When he wanted to put all the Social Security money in the stock market, Barney Frank said that Wall Street needed to be re-regulated. Bush replied by disappearing. He did manage to APPEAR just long enough to lobby for and sign into law CORPORATE WELFARE for the international banks. Goodbye Goofball Georgie, have fun in Texass.

October 20 2010 at 5:57 AM Report abuse rate up rate down Reply
1 reply to travelergtoo's comment
ruthsgardens

KEEP IT IN AMERICA!!!

October 20 2010 at 5:36 AM Report abuse +1 rate up rate down Reply
jmjl15

GET REAL................ CHECK THE CLOTHES YOU BUY ? MADE WHERE ?

October 20 2010 at 4:00 AM Report abuse rate up rate down Reply
1 reply to jmjl15's comment
hchevy

Every piece of clothing I own is made in USA. It's not easy but can still be done if you try. Of course I can't just go to the store and try stuff on because all that crap is foreign made. I order on the internet and help keep a UPS driver in his job.

October 20 2010 at 5:22 AM Report abuse rate up rate down Reply
Yosh

Obama has nothing to do with this Intel's plans, but Obama will try to get a credit for this hiring plans. Obama is an anti businesses and against BIG company, that's a fact!

October 19 2010 at 8:33 PM Report abuse rate up rate down Reply
1 reply to Yosh's comment
linmarco

How do you know he will try to get credit for this? Isn't the fact of this company's plans to hire someone more important than politics? If you have proof for your statement you also have a remedy. It's called your vote and if you so choose you can use it against him come November 2012.

October 19 2010 at 10:10 PM Report abuse +2 rate up rate down Reply
roperbingobabe

If you had not noticed, Republicans vote every time for big business over the American people. Why else would they oppose making insurance companies continue to insure you if you get sick, let people with pre=existing problems get health care. Let children to stay on their parents policies until they are 26. For too long insurance companies have been able to screw policy holders. It is about time Americans got full control over their policies and not let United Healthcare screw them out of the benefits they paid for.

October 19 2010 at 8:25 PM Report abuse -1 rate up rate down Reply
2 replies to roperbingobabe's comment
Yosh

One of big company, Boeing rept's stated an increase in healthcare cost to the "every" employees because of Obamacares. Sadly to say most of the working families will be paying a higher premiums, due to Obama's socialist ideology. Added to this, service sectors like McD'd/Walmart and OTHERS are going to have major problems as well, and some going to lose healthcare, thanks to Obama... And it's just around the corner!!!

October 19 2010 at 8:42 PM Report abuse -1 rate up rate down Reply
roperbingobabe

When will Americans realize that Republicans are not interested in creating jobs for Americans.....they are interested in the bottom line for big insurance companies and big business interests on Wall St.

October 19 2010 at 8:15 PM Report abuse -3 rate up rate down Reply
2 replies to roperbingobabe's comment
roperbingobabe

With the unemployment rate in the US.....why would Republicans block a bill that would cut off tax breaks for companies moving jobs out of the US. I guess they are more interested in big business profits....than the American people.

October 19 2010 at 8:10 PM Report abuse -1 rate up rate down Reply
1 reply to roperbingobabe's comment
roperbingobabe

It is against the law to employ an illegal. Let's go after the employers and stop them from using illegals to increase their profits. No jobs....no illegals.

October 19 2010 at 8:04 PM Report abuse +2 rate up rate down Reply
1 reply to roperbingobabe's comment
roperbingobabe

It is nice to see a company bring jobs to Americans. With the Bush and Republican's policy to outsource US jobs...is is a breath of clean air. Millions of manufacturing jobs were outsourced under the bush and he thought it was good for Americans. Bush thought America could become a consumer nation......buying cheap goods from other countries. I guess Bush forgot about how Americans, with bo core jobs could afford to buy goods from other countries Then the Bush cronies on WAll St caused the collapse of the construction industry....resulting in millions of jobs lost. Recently Republicans in Congress blocked a bill designed to stop outsourcing American jobs.....evidently they still stand with big business over the American people. Republicans will not be happy until every American manufacturing job is in China.....where they are paid 31cents an hour to produce cheap products for American consumers. It is no wonder we have a high unemployment rate in the US......Americans are creating jobs in China, Mexico, India....even Brett Favre's favorite jeans, Wrangler, are made in Mexico.

October 19 2010 at 7:57 PM Report abuse rate up rate down Reply